The Ministry of Finance estimated the annual losses of the state banks...

The Ministry of Finance estimated the annual losses of the state banks at 100 billion rubles.

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Photo: Ekaterina Kuzmina / RBC

Finance Minister Anton Siluanov has supported the policy of the Central Bank on the improvement of the market, explaining this position heavy losses in unreliable banks

Only in 2016 the state has lost about 100 billion roubles invested in them proved unreliable banks, said Russia’s Finance Minister Anton Siluanov. It is this fact, according to him, and explains the support by the Ministry of Finance of the Bank of Russia to improve the banking sector.

“Much has been said about the fact that we’re intercept banks with public funds and it cut off turning into a “cynical and lose all logic” measure. It is actually much easier, because we are public funds in banks over the last year has lost about 100 billion rubles,” — said Siluanov at a conference of the Association of Russian banks (ARB) (quoted by Reuters).

In mid-March 2017, ARB has published the annual report, in which the actions of the Central Bank for “clearance” of the banking sector was heavily criticized. In the document, in particular, talked about “favoritism” and asserted that the activity controller for the “clipping” of individual banks from public funds “takes on a very strange (if not to say cynical) form and loses all logic”.

Speaking about how it will change the policy of placing public funds in banks, Siluanov on Tuesday said that in this area there will be changes designed to ensure the reliability of investments.

“We use national ratings in assessing banks in order for them to use in the allocation of funds, when participating in programs and so on, — said the Minister. — The use of public funds, we believe, should be in proven, reliable banks” (quoted by “RIA Novosti”).

Siluanov also said that he supports the proposal of the Central Bank on the establishment of a tiered banking system.

“On the one hand, will reduce the administrative burden on banks and will enhance the availability of banking services, and with another — will become the basis for the stability of the banking sector and a healthier banking system”, — said the Minister.

On the eve, March 27, the support policy of the Central Bank and disagreed with the position of the EPIRB was expressed by one of the top 10 Russian banks Alfa-Bank. In a statement the credit organization stressed the need for removal from the market, lost their capital of banks, as well as the validity of the proposals of the Central Bank according to the proportional regulation of credit institutions.

“The practical challenge is to clarify the final legislative language and consider the real commercial interests of all groups of banks. This must be done in a calm and balanced dialogue, without loud slogans, accusations and labels. Thus, the Russian banking system should prove your maturity and willingness to change”, — reads the statement of Alfa-Bank.

On Tuesday criticized the report of the ARB machined and the head of VTB Andrey Kostin, who said that the hints that the big players “solve problems” in their interests, ARB “does not unite, but divides the banks.”

In turn, the head of the Central Bank Elvira Nabiullina noted the “strangeness” of the call to abandon the revocation of licenses.

“We are very concerned that ARB though and talks about the importance of promoting competition, however, does not Express tolerance for fraud reporting, fraud, any violation of the law, condemns the circuit operation and not attempted to develop standards of good behavior”, — said the head of the Central Bank.